LONGi sets solar industry record for RD spending, according to PV Tech

Energy Press Releases Thursday April 12, 2018 08:37
XI'AN, China--12 Apr--PRNewswire/InfoQuest

Recently, PV Tech released an article about leading integrated high-efficiency monocrystalline module manufacturer and 'Silicon Module Super League' (SMSL) member [ https://www.pv-tech.org/editors-blog/top-10-module-suppliers-in-2017 ] LONGi Green Energy Technology. LONGi set a new solar industry R&D expenditure record in 2017, not only surpassing the two historical leaders, First Solar and SunPower, but also spending more in one year than any PV manufacturer to date.

According to LONGi's recently released 2017 annual financial report, total R&D expenditure in 2017 almost doubled to RMB 1.1 billion (US$175.7 million), up 96.67% from US$89.2 million in 2016.
LONGi reported total revenue of RMB 16.362 billion (US$2.59 billion) in 2017, up almost 42% from the previous year. Therefore, R&D spending accounted for 6.77% of revenue in 2017.

According to PV Tech's long-standing analysis of R&D spending [ https://www.pv-tech.org/editors-blog/10-years-of-rd-spending-analysis-of-12-key-pv-module-manufacturers ] of leading PV module manufacturers, only SunPower has come close to LONGi's level when, in 2015, R&D spending accounted for 6% of revenue and First Solar topped 5.1% in 2011.

However, one of the key metrics is that LONGi surpassed perennial top ranked R&D spenders, First Solar and SunPower, respectively, by a significant margin. Both companies cut R&D spending in 2017, the first time for SunPower in four years, while First Solar trimmed R&D spending for the third consecutive year.

In contrast, LONGi has increased R&D spending for six years in a row and has maintained a high-level of R&D investment over the last four years.

Initially, LONGi was a dedicated monocrystalline ingot and wafer producer, but in 2015, the company started producing monocrystalline solar cells and modules. Focused on high-efficiency PERC (Passivated Emitter Rear Cell) technology, R&D spending almost doubled each year after 2016.

However, in reporting R&D expenditure of US$175.7 million, LONGi also set a new annual solar industry spending record, according to PV Tech's analysis.
First Solar had previously held the record at US$143.9 million, set in 2014. First Solar remains the leader in R&D spending on a cumulative basis, reaching over US$1.11 billion between 2007 and 2017.

SunPower remains second ranked at over US$663 million in the same time period. However, LONGi has jumped ahead of several other PV manufacturers to take the third ranked position with over US$390 million in cumulative R&D spending since 2012.

Original PV Tech article can be found at: https://www.pv-tech.org/news/longi-sets-solar-industry-record-for-rd-spending
Photo - https://photos.prnasia.com/prnh/20180411/2102116-1

Latest Press Release

ROSATOM SHARED ITS DEVELOPMENTS IN NUCLEAR FUEL CYCLE AT WNFC 2018 IN MADRID

Madrid. — On April 17-19, the World Nuclear Fuel Cycle 2018 (WNFC) international conference organized by the Nuclear Energy Institute (NEI) and the World Nuclear Association (WNA) takes place in Madrid. State Atomic Energy Corporation ROSATOM is...

Photo Release: Myanmar Minister of Electricity and Energy visits PTTEP Headquarters

His Excellency U Win Khaing, Union Minister for Ministry of Electricity and Energy, Republic of the Union of Myanmar, and his delegation recently paid a courtesy visit to PTT Exploration and Production Public Company Limited (PTTEP) Headquarters located...

Narada Won the China Energy Storage Industry Grand Slam in 2017

On April 3, 2018, CNESA (China Energy Storage Alliance) released the "Energy Storage Industry Research White Paper 2018", the installed capacity and energy scale of the projects Narada built ranks in the Top 3 worldwide for the 2017 electrochemical...

GCL-Poly Establishes 20GW Joint Venture Using CCZ Technology

GCL-Poly Energy Holdings Limited (HK: 3800), a subsidiary of the world's leading clean energy conglomerate GCL, has entered into a joint venture agreement ("the Agreement") with the Qujing Municipal Government in Yunnan Province, China to invest 9...

LONGi sets solar industry record for RD spending, according to PV Tech

Recently, PV Tech released an article about leading integrated high-efficiency monocrystalline module manufacturer and 'Silicon Module Super League' (SMSL) member [ https://www.pv-tech.org/editors-blog/top-10-module-suppliers-in-2017 ] LONGi Green Energy...

Related Topics